Terapin Company engages in the following external transactions for November.
1. Purchase equipment in exchange for cash of $21,300.
2. Provide services to customers and receive cash of $6,100.
3. Pay the current month's rent of $900.
4. Purchase office supplies on account for $1,500.
5. Pay employees' salaries of $1,300 for the current month.
Required:
Record the transactions. Terapin uses the following accounts: Cash, Supplies, Equipment, Accounts Payable, Service Revenue, Rent Expense, and Salaries Expense. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)
+1
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Terapin Company engages in the following external transactions for November. 1. Purchase equipment in exchange for cash of $21,300. 2. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Business » Terapin Company engages in the following external transactions for November. 1. Purchase equipment in exchange for cash of $21,300. 2. Provide services to customers and receive cash of $6,100. 3. Pay the current month's rent of $900. 4.